What is the Kiddie Tax?

Posted by Madison on February 18, 2015

We recently discussed Do Your Kids Need to File Taxes? I mentioned that if interest, dividends and other investment income are more than $2,100 in 2016, you’re going to get hit with the kiddie tax. What is the kiddie tax and who does the kiddie tax apply to? Let’s take a closer look. Background Children […]

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Tax Estimator to Calculate Your 2014 Tax Refund

Posted by Madison on January 25, 2015

The 2014 tax calculator is here! Do you want to get an estimate of how much your tax refund will be before you file? We just updated the 2014 tax calculator with the current tax brackets, credits, deductions, and everything else you’ll need to estimate your tax refund before the tax deadline. How to Use […]

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TurboTax Free Federal and State Tax Filing

Posted by Madison on January 16, 2015

TurboTax is rolling out a new program this year called Absolute Zero. For a limited time only TurboTax will offer free federal and state tax filing. This is the first time that TurboTax has offered completely free filing (with no extra fees for filing your state return). The free returns apply to simple returns using […]

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When is the Tax Extension Deadline?

Posted by Madison on October 15, 2014

If you filed for a tax extension last April today, October 15, 2014, is the tax extension deadline for your 2013 tax return. The original 2014 tax deadline for your 2013 tax return was on April 15, 2014. If you filed Form 4868 you got an automatic extension, which is due six months after the […]

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How to Claim the Health Insurance Premium Tax Credit

Posted by Madison on September 16, 2014

As the first year of health insurance through the new health care exchanges winds down, another new challenge is just beginning. The upcoming tax season will be the first year to report, claim, and reconcile the new health insurance premium tax credit. It will be a new, and in some cases challenging, addition to your […]

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Is a Class Action Lawsuit Settlement Taxable?

Posted by Amanda on August 20, 2014

We featured How to Find Class Action Settlements That Owe You Money last week to help you find current settlements you might be eligible for. I’ve had some luck with class action lawsuits in the past. As each post-card sized, class action plea comes in the mail, I fill it out and send it in. […]

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The 2014 state sales tax holidays are almost here! If you’re lucky, your state will encourage you to shop on specific days this summer to avoid paying sales tax. The tax free weekends and sales tax holidays vary by state, but many are having the 2014 tax free weekend the first weekend in August for […]

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3 Benefits of Tax Loss Harvesting

Posted by Don on June 26, 2014

In order to be a successful investor, one has to learn how to buy low and sell high. This can be hard since many of us allow for our emotions to get involved. As a result, we tend to buy high and sell low. But even when the buy low, sell high strategy is followed, […]

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How to Handle an Income Tax Audit

Posted by Kristen on April 17, 2014

The thought of being audited by the IRS can be horrifying. Much of that fear probably comes from not really understanding an audit. In many cases, people don’t understand how or why they are getting audited, what they need to do once they find out they are being audited, and what happens next for them. […]

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Easy Ways to Spend Your Tax Refund the Right Way

Posted by Kristen on April 15, 2014

The tax deadline is here! If you are still finishing your tax return today, be sure to see the Last Minute Checklist for Getting Your Taxes Done Right! And if you aren’t going to finish today, you’ll want to head straight for the information in How to File for a Tax Extension. Once your taxes […]

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